Tether Operations Limited, a major player in the digital asset ecosystem, has announced a strategic partnership with Oobit, a mobile payment app, and the TON Foundation. This partnership aims to enhance the user experience for transactions involving Tether’s digital assets, USDT and Tether Gold (XAUt), on the TON blockchain. By incorporating Oobit’s mobile payment app, Tether aims to provide merchants with a seamless and convenient way to handle cryptocurrency payments. Oobit’s Tap & Pay feature allows merchants to receive fiat currency even if the payment is made in USDT, thus expanding the practical use of cryptocurrencies as a widely accepted payment option.
The integration of Tether’s digital assets on the TON blockchain, which is integrated with Telegram, allows for simple, borderless peer-to-peer payments. This integration has resulted in over $200 million worth of USDT being issued on TON’s blockchain, enabling users to send USDT via direct messages on Telegram and utilize it for instant crypto Tap payments on Oobit. USDT is currently available on 14 other blockchains, including Tron and Ethereum, and joined the Celo network in March. Paolo Ardoino, Tether’s CEO, expressed excitement about the partnership with Oobit and the opportunities it presents in providing banking solutions to the unbanked population and revolutionizing how users transact with cryptocurrencies.
In February, Tether participated in Oobit’s Series A funding round, which raised $25 million. Oobit CEO Amram Adar emphasized the inclusive nature of the partnership, highlighting that it provides unbanked individuals with access to prominent cryptocurrencies and worldwide payments through Oobit. Additionally, Tether recently announced additional investment into CityPay.io, a platform that allows users to make payments at various establishments using cryptocurrencies like Bitcoin. Tether’s expansion plans include entering markets in Armenia, Azerbaijan, Kazakhstan, and Uzbekistan, further enhancing the adoption and use of cryptocurrencies for everyday transactions.
The partnership between Tether, Oobit, and the TON Foundation is expected to revolutionize crypto payments for merchants, providing a more seamless and convenient way to handle transactions involving USDT and XAUt on the TON blockchain. The collaboration aims to expand the practical use of cryptocurrencies and establish them as a widely accepted payment option. This strategic partnership builds on Tether’s ongoing efforts to provide innovative and accessible solutions for users to transact with digital assets, ultimately contributing to the broader adoption and integration of cryptocurrencies into mainstream financial systems. Through partnerships and integrations with platforms like Oobit and the TON blockchain, Tether aims to create inclusive and user-friendly solutions that cater to a diverse range of consumers, including the unbanked population.
